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OFO Singapore Issue Tokens With GSELab, Deny ICO

OFO has launched “Riding as Mining” campaign on its app in Singapore market. Users may get GSE tokens through using OFO bikes. OFO official denied that campaign was related to ICO.

The token is awarded to OFO users for free and somehow connected with the distance and timing.

This event is a cooperation between OFO and GSELab, which is a marketing campaign launched specifically in Singapore. The main purpose of the event is to encourage users to adopt the green and environmentally friendly way of travelling.

OFO did not prepare to launch ICO of any kind. Any engagement with blockchain technology in the country will definitely comply with the laws and regulations of the competent authorities.

As an innovative Internet technology company, OFO will maintain focus on innovative technologies including blockchain. In the future, OFO will provide users with better travel services through more technological innovations such as big data and internet of things.

GSElab is blockchain startup founded in Singapore in January 2018. The Company is positioned to establish the world’s first and largest platform based on the sharing economy and blockchain technology.

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